Whether you make a purchase online or in a store. Whether you are in a Los Angeles or Shanghai store. A Mulberry accessory will have the same final price to the consumer. The British fashion house announces the ticketing revolution: Mulberry harmonises prices on a global scale, also absorbing VAT, duties and any local taxes. The brand does it as part of an effort of “openness and transparency” towards the public.
Mulberry harmonises prices
The lockdown pandemic has nothing to do with evaluations on a clientele of luxury that, in fact, will travel less in the coming months. The English brand has been working on the project for months, and has already experimented with the collections in collaboration with Acne Studios and M Collection. As WWD reports, CEO Thierry Andretta explained that the reference will be the tags applied in the United Kingdom. Innovation starts from Leather Goods because, simply, the category is worth 90% of the turnover: if it works there, it’s done.
The move is unusual, is the observation from WWD. For brands, price management architecture is usually one of the most complex jobs: rate cards must be updated continuously to take into account currency fluctuations, logistics costs and local trends in individual markets. Andretta is confident: it is certain that Mulberry is able to withstand the losses deriving from those markets where prices are now higher. The reference is the new consumers, young (but not necessarily), who also check five times the price before deciding on a purchase. Consumption is changing, Mulberry plays in advance.
- Sales down 6.5% only: Hermès say thanks to artisan model solidity
- Versace has learnt a lesson on digital during lockdown stage